Thank you to all who made donations to the Lutheran Seminary General Fund that made it possible for LTS to have a modest surplus of $12,814 for the 2015-2016 financial year. Given that at the beginning of the budget year we started off with a deficit budget of approximately $43,000 achieving this surplus is truly remarkable. So thank you to all who generously donated to LTS.
In order to remove the financial exigency status, LTS has to have three surpluses in a row. With surpluses the past two financial years, the task is now one of achieving a surplus in the current financial year. This will be an extremely difficult task without your ongoing support. The Board of Governors of LTS is in the process of searching for a new president. This is an exciting task, but it has major financial implications that affect the budget. As a result the 2016-2017 budget year has started with a large deficit. Lutheran Theological Seminary needs your ongoing and generous support in order to balance this years budget.
THANK YOU ONCE AGAIN
Lutheran Theological Seminary